Families in Lewisham are facing the biggest fall in living standards since records began – as council tax, energy prices, broadband, phone and water bills are all set to rise this month.

The average family will see a £1,840 fall in disposable income over the next two years – sucking an estimated £229,940,000 from the local economy.

As council tax rises across the country, forced by ongoing Tory cuts to council budgets, Keir Starmer has announced that a Labour Government would be freezing council tax for every household in Britain, fully funded through a proper windfall tax on oil and gas companies.

Publishing the analysis, Lewisham Labour’s Cabinet Member for Finance and Strategy Amanda de Ryk, said:

“The cost of living crisis is far from over – yet this government seems to have given up. As new analysis reveals the devastating toll rising taxes alongside higher bills is having on families and the local economy in Lewisham. Only Labour has a plan to provide the support people need.

“Instead of rising taxes, a Labour Government would be freezing council tax – fully funded by a fair windfall tax on the bumper profits of the oil and gas giants. BP profits announced this earlier this month show that they are making £60million per day.

“We would also close the non-dom tax loophole and reverse the Tory £1 billion hand out to the richest people in the country. We would use that money to fund one of the biggest expansions of the NHS workforce in history.

“We know that our residents will face another very difficult winter with energy bills skyrocketing and profits for energy producers rising. Labour would keep energy bills low for good by insulating 19 million homes and sprinting towards 100% clean power. Different choices to build a better Lewisham.”